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Pilipino Banana Growers and Exporters Affiliation (PBGEA) stated it’s cautious of the likelihood that Latin American banana exporters, resembling Ecuador, will dump their produce in Asian markets like Japan and China the place the Philippines is already going through stiff competitors. It is a consequence of the disruption attributable to the Ukraine-Russia conflict.
PBGEA Govt Director Stephen A. Antig acknowledged that the closure of the Russian market, as a result of its conflict towards Ukraine, might power Ecuador and different Latin American producers to seek out various markets for his or her bananas with Asia as their high precedence.
Antig stated the potential of this taking place will not be far-fetched since Latin American banana exporters did the identical in 2008 and 2009, particularly if the Ukraine-Russia conflict drags on. Dumping, he stated, would pull down the costs of Philippine banana exports.
The specter of dumping from Latin American banana producers comes at a time when the Philippines is attempting to barter for larger shopping for costs from Japanese importers and retailers.
Supply: businessmirror.com.ph
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